Check out the following top cycling trends that will dominate in 2023 to discover various wholesale cycling opportunities as people worldwide became increasingly health-conscious over the past two years. Cycling has emerged as a preferred alternate mode of transport in many cities from last year in view of social distancing requirements and its growth is set to continue according to multiple worldwide statistics. Read on to find out the following three important trends that will determine the bike industry’s growth in 2023: utility cycling, e-bikes growth, and rising demand for all-purpose bikes and other cycling gears.
Why should you look at cycling trends?
From 2022 to 2030, the global bicycle market is expected to grow at an annual rate of 8.2%, up from an estimated total market value of USD 59.33 billion in 2021. The steady growth of the cycling wave started from 2020, with biking deemed as a safer commute compared to public transport, and considered as a healthier option to gyms and other public sports venues during the worldwide lockdown period.
Coming to 2023 both a cycling enthusiasts organization as well as a sports industry analyst is hopeful with the potential bike boom. Indeed, with a much affordable price and convenient portability, bicycles continue to prove themselves as a great alternative to fit both fitness and transportation purposes worldwide and hence created attractive commercial prospects.
Top cycling trends in 2023
Utility cycling as a trend
Utility cycling refers to cycling that is done specifically for the purpose of transportation instead of as a sport or recreational activity. Driven by the gradual revivals of the worldwide cycling trend boosted by distancing measures, utility cycling is making an even stronger comeback in 2023 as more policies make way for it.
Such pro-biking governmental initiatives are particularly prominent in the US, as numerous sources cited these endeavors. The New York City Department of Transportation intends to install 250 miles of protected bike lanes over the course of five years, starting from 2021. Gazette Chicago reported similar efforts in Chicago with an estimated total of 100 miles of bike lanes to be built. Better still, such undertakings go way beyond 2023. The Washington Post reported that in late 2021, Washington, DC announced a USD 4.6 million plan to begin adding cycling lanes on Connecticut Avenue from next year onwards.
From cycle traders’ point of view, various encouraging schemes from the relevant authorities signify a great shift in urban cycling trends for the first time in history. The urban biking demands moved from the traditionally more sporting and leisure style to a more pragmatic approach. For example, nowadays a light fast-moving urban bike or a unisex city bike equipped with storage as featured in the picture below may be a more preferred option over conventional road bikes or sporty mountain bikes with disc brakes.
On the other hand, a mini folding bike as shown in the picture below or a foldable bike combined with an urban bike feature may be an even smarter business solution to short-distance cycling, as later it can be carried by subway, cab or any other means of transport, facilitating the entire journey.
MarketsandMarkets research firm described the electric bikes or e-bikes market opportunity as “attractive,” since it is expected to almost double within the next five years, from USD 47.0 billion in 2021 to USD 79.7 billion in 2026, at a compound annual growth rate (CAGR) of 11.1%. This increase is driven by government support and a space-conscious approach that is augmenting worldwide since 2020.
Bicycle designer and manufacturer Vanmoof highlighted that the e-bike revenue in the US had a 240% year-over-year (YOY) increase in the 12 months ending in July 2021, and it had since surpassed road bikes as the third-largest cycling category in terms of total sales revenue.
In reality, the popularity of electric bikes may very well be owing to many of their easy-to-use convenient functions. As shown in the pictures below, e-bikes are often equipped with features such as LCDs, smart surround lighting, and anti-theft locks. On top of these physical attributes, certain e-bikes featuring smartphone integration capabilities greatly enhance their connectivity and versatility. For instance, health tracking apps, security alarm apps, maps, and GPS function apps are some of the most commonly installed smartphone apps for e-bikes.
Hence, other than sports enthusiasts who might perceive e-bike ride as defeating the exercise purposes, to most other general end-users, be it a leisure biker or a hefty utility cyclist, it is with little doubt that an electric bike with a backseat or a foldable e-bike such as the one featured in the picture below can help ease a cycling journey. Through its diverse battery-powered functions, e-bikes offer a much more effortless, comfortable ride. Foldable bicycles are significantly easy to carry by various means of transport, providing riders with a more cost-efficient and time-saving commuting experience.
All-purpose, accessorize cycling needs
More all-rounded cycling models will hit the market in 2023, with gravel bikes standing out. This is because a gravel bike is basically a combination of a road bike and an off-road mountain bike, so it performs efficiently both on and off-road. In fact, the marketability of gravel bikes can be traced back to 2019. According to NTP, the gravel bikes sales increased by 109% in 2021, compared to its revenue record in 2019.
The rise of do-it-all gravel bikes (as shown in the picture above), which are designed for commuting, sports and off-road travel, promotes the need to accessorize bikes for traveling. Instances of accessories include a bike handlebar bag featured in the below picture and a longer, bigger bag installable at the bike frame itself.
Aside from these accessory bags, more customized, personalized cycle gears are also expected to shine in 2023 along with the increasing number of cyclists looking for more creative ways to easily differentiate their belongings from others. Highly individualized, customizable personal cycling equipment such as this personalized bicycle seat cushion or the two cushions featured in the below pictures may work well to help set apart one’s personality from the rest.
In essence, these three key trends will shape the growth of the bike business in 2023: the prevalence of utility cycling, the expansion of the e-bike market, and the increasing demands for all-purpose bikes and other cycling equipment. Thanks to a more wellness-conscious mentality and increased concerns over personal space in the last two years, cycling has become an irresistible lifestyle in many urban areas, especially those with government initiatives to promote usage with corresponding development resources. Business owners interested in exploring wholesale opportunities in the cycling industry will soon discover that now, more than ever, is the ideal moment to get involved in this sector to enjoy the growing momentum during its inception. If you are keen to inquire into more wholesale business opportunities related to cycling such as bike glamping, read our glamping article here to find out more.